UST yields pushed higher as investors refocused on sticky inflation, heavy issuance and Fed credibility concerns following mixed dovish signals; 10Y moved toward ~4.17% in some sessions while 2Y retraced modestly, leading to mild curve flattening as long rates underperformed. A Reuters poll of 75 bond strategists suggested that long yields are likely to stay elevated even if short rates ease, citing term premium, deficits and central bank independence as key constraints. Markets showed signs of rotation: earlier enthusiasm for cuts was tempered by caution, and demand for safe assets waxed and waned depending on headline risk. The path forward hinges on upcoming inflation data, Treasury auctions and Fed commentary to break the tug-of-war between easing hopes and structural pressures.

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